ATOUT-WAL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ATOUT-WAL
Largest movements
- Tangible fixed assets -€367,994
down €367,994 (-13.3%), from €2.8m to €2.4m
of which Plant, machinery and equipment: -€382,251
- Cash -€94,959
down €94,959 (-91.1%), from €104,260 to €9,301
mainly Debts after one year (-€476,667) and Contributions, distributions and other (-€63,429)
- Intangible fixed assets -€79,738
down €79,738 (-13.8%), from €577,502 to €497,764
- Debts after one year -€476,667
down €476,667 (-27.0%), from €1.8m to €1.3m
- Current portion of long-term debt +€80,500
up €80,500 (+16.9%), from €476,667 to €557,167
- Investment grants -€63,429
down €63,429 (-13.7%), from €461,863 to €398,434
- Gross operating margin -€193,153
down €193,153 (-30.2%), from €639,035 to €445,882
- Taxes +€82,783
up €82,783 (+78.7%), from -€105,204 to -€22,421
- Financial charges -€16,125
down €16,125 (-18.8%), from €85,680 to €69,555
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,742,581 | €4,210,334 | -€532,247 | -11.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,770,224 | €3,322,492 | -€447,732 | -11.9% |
| Intangible fixed assets | 21 | €577,502 | €497,764 | -€79,738 | -13.8% |
| Tangible fixed assets | 22/27 | €2,772,722 | €2,404,728 | -€367,994 | -13.3% |
| Land and buildings | 22 | €4,085 | €18,342 | +€14,257 | +349.0% |
| Plant, machinery and equipment | 23 | €2,768,637 | €2,386,386 | -€382,251 | -13.8% |
| Financial fixed assets | 28 | €420,000 | €420,000 | = | 0.0% |
| Current assets | 29/58 | €972,357 | €887,842 | -€84,516 | -8.7% |
| Amounts receivable within one year | 40/41 | €746,407 | €782,678 | +€36,272 | +4.9% |
| Trade receivables | 40 | €519,192 | €687,970 | +€168,778 | +32.5% |
| Other amounts receivable | 41 | €227,214 | €94,708 | -€132,507 | -58.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €104,260 | €9,301 | -€94,959 | -91.1% |
| Deferred charges and accrued income | 490/1 | €121,691 | €95,863 | -€25,828 | -21.2% |
| Total equity and liabilities | 10/49 | €4,742,581 | €4,210,334 | -€532,247 | -11.2% |
| Equity | 10/15 | €2,076,858 | €1,971,283 | -€105,576 | -5.1% |
| Contributions | 10/11 | €478,470 | €478,470 | = | 0.0% |
| Reserves | 13 | €22,140 | €22,140 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,140 | €22,140 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,140 | €22,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,114,385 | €1,072,239 | -€42,147 | -3.8% |
| Investment grants | 15 | €461,863 | €398,434 | -€63,429 | -13.7% |
| Provisions and deferred taxes | 16 | €197,474 | €200,529 | +€3,056 | +1.5% |
| Provisions for liabilities and charges | 160/5 | €197,474 | €200,529 | +€3,056 | +1.5% |
| Taxes | 161 | €70,092 | €47,671 | -€22,421 | -32.0% |
| Major repairs and maintenance | 162 | €127,382 | €152,858 | +€25,476 | +20.0% |
| Amounts payable | 17/49 | €2,468,249 | €2,038,522 | -€429,727 | -17.4% |
| Amounts payable after more than one year | 17 | €1,766,667 | €1,290,000 | -€476,667 | -27.0% |
| Financial debts | 170/4 | €1,766,667 | €1,290,000 | -€476,667 | -27.0% |
| Amounts payable within one year | 42/48 | €701,582 | €748,522 | +€46,940 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €476,667 | €557,167 | +€80,500 | +16.9% |
| Trade debts | 44 | €224,292 | €182,050 | -€42,242 | -18.8% |
| Suppliers | 440/4 | €224,292 | €182,050 | -€42,242 | -18.8% |
| Taxes, remuneration and social security | 45 | €0 | €9,305 | +€9,305 | |
| Taxes | 450/3 | €0 | €9,305 | +€9,305 | |
| Other amounts payable | 47/48 | €623 | €0 | -€623 | -100.0% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €462,500 | €462,772 | +€272 | +0.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €25,476 | €25,476 | -€0 | 0.0% |
| Other operating charges | 640/8 | €32,463 | €29,025 | -€3,438 | -10.6% |
| Gross operating margin | 9900 | €639,035 | €445,882 | -€193,153 | -30.2% |
| Operating profit (loss) | 9901 | €118,597 | -€71,391 | -€189,987 | |
| Financial income | 75/76B | €71,715 | €76,379 | +€4,664 | +6.5% |
| Recurring financial income | 75 | €71,715 | €76,379 | +€4,664 | +6.5% |
| Financial charges | 65/66B | €85,680 | €69,555 | -€16,125 | -18.8% |
| Recurring financial charges | 65 | €85,680 | €69,555 | -€16,125 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €104,632 | -€64,567 | -€169,199 | |
| Income taxes | 67/77 | -€105,204 | -€22,421 | +€82,783 | +78.7% |
| Profit (loss) for the period | 9904 | €209,836 | -€42,147 | -€251,982 | |
| Profit (loss) for the period to be appropriated | 9905 | €209,836 | -€42,147 | -€251,982 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.